State of Real Estate Market in Macon County :: August 1st, 2023 Update
Posted by Tom Brinkoetter on
As of August 1, 2023, the residential real estate market in Macon County, Illinois, is experiencing fluctuations in various aspects. Let's jump into the latest data to gain a better view of the current state of real estate in our local market.
Active Listings and Under Contract/Pending Properties
Currently, there are 116 active listings in Macon County, 51 properties are active under contract, and 104 properties are in a pending status, indicating stable interest from buyers in the market. In total, there are 155 properties under contract or pending, suggesting a healthy level of real estate activity in the area.
July 2023 Sales Performance
In July 2023, the market witnessed a total of 100 sales. Although this figure represents a…
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After enjoying a white-hot marketplace fueled by strong buyer demand, low inventory and record low interest rates, we began a slow, predictable return toward a more typical market. Though we have experienced a return to stability with a rise in interest rates and increased inflation, our market remains resilient and resistant to discouraging national trends. In 2022, our market saw 1443 units sold, down 9%, and a total of $199,000,000 in total sales volume, down 7.5%. Driven by low inventory and continued buyer demand, home values remain strong with average sales price rising 2% to $138,475 and the median sales price rising 5.8%. In further positive news, 78% of homes sold in Macon County were on the market less than 30 days; 91% sold in less than 60…
As we round the half point of 2022, the hurried pace surrounding home sales in the Macon County residential real estate market is starting to show signs of a gradual slow and return to normalcy. We’ve been living through unprecedented times, and the real estate market has been enjoying unprecedented opportunities for buyers and sellers alike. As Macon County real estate slowly begins to assume a more typical pace, let’s take a quick look back.
The Macon County residential Real Estate market experienced another robust year in 2021 with a total of 1580 properties sold at an average sale price of $135,914. A 6% increase in total sales, 9% increase in sales price, and 47% drop in average days on market provided a powerful combination for home sellers. As a company, Brinkoetter Realtors was involved in 57% of all MLS home sales in Macon County and delivered a 98% list to sell percentage with an 11% higher average sales price of $156,219.
As we round the corner and head into the final leg of another fast-paced year in real estate, we look over our shoulders to see where we’ve been, and we look forward to see what lies ahead.
